DoorDash lays off 1,250 employees to rein in operating expenses
DoorDash is laying off 1,250 people in an effort to rein in costs,
The company’s CEO Tony notes in a message sent to employees last week that the pandemic presented unprecedented opportunities to serve merchants and consumers, and as a result, DoorDash sped up hiring to catch up with growth. Xu says although most of the company’s investments are paying off, it did not properly manage team growth.
Xu says that given how quickly DoorDash hired, if the company did not address its operating expenses, they would continue to outgrow sales growth. He went on to note that DoorDash’s business is more resilient than other e-commerce companies.
Employees who are laid off will receive 13 weeks of compensation, along with one four-week lump-sum severance payment. Xu’s memo also says impacted workers will receive their February 2023 stock vest. For visa-sponsored workers, the termination date will be March 1, 2023. Xu says this decision will give them additional time to find a new job.
Related news
More than 40% of those interested are not eligible for a Workers’ Loan!
Sorry, this entry is only available in HU.
Read more >How much will the worker’s loan repayment be?
Already in the first days, there was significant interest in…
Read more >Sándor Czomba: The number of registered job seekers has not been this low since the change of regime
According to data from the National Employment Service, in December…
Read more >Related news
Hungarian tourists in Croatia set another record year
In line with the third consecutive year of increasing numbers,…
Read more >Coffee has become more expensive in Italy
The price of a cup of espresso, beloved by Italians,…
Read more >Carrefour offloads another 39 French stores
Carrefour is offloading 39 French – often loss-making – hypermarkets and…
Read more >